trading spreads and outrights I have spoken to a whale who swing 6 figures daily and this was a quote from him, "I do not trade more than 5 lots in Zb outright do to the algo." damn what am I doing trading 10-20 lots in this thing? Recent example short 123.08 with a 123.02 bid sat in it for a hour got out at 5, goes to 123.08 one more time then grinds down to 122.26 where I buy it sat in that fucker forever to get out at 123.03,4. I am just having trouble with patience. But some days it pushes you so much you puke it and comes right back bids and offers dont even trade it just goes. there you have it. If you dont have the perfect price you are always in a state of heat. and when you are wrong it can be a quick f$ck which I like or a grind and you are down 5 ticks and wondering what to do. After 8 years of trading I am still learning everyday but I need to only trade the 7-9am shift where I make $ and leave...basically like all traders I like vol when vol is crushed algos are back and the trade sucks.
Anybody else short US 30 Bond
- Thread starter richard_m
- Start date
I don't know what you heard about me, but you can't get a dollah out of me, I hate waiting for the mutha f#ckin FOMC...
I don't know every facet of the u.s. treas mkt's, but the guys i know who swing/sling (and pikers too) size are competing for bids and offers simultaneously (zn vs. zb). These spreaders are likely responsible for the majority of volume taking place in the curve.
I don't know if these are the algos u are referring to, but with the depth on the bid and offer, in the ZN for example, it is tough to flash size. I see it (flashing) done much more in the ES or NQ.
fwiw, my thoughts, experience, and observations
Pathetic action this morning.
I guess 3 percent is a given over the next day or 2.
after 10:30 am the worst trading day in weeks
It would be up about 12 ticks or so from here to get 3% yield in ZN. Only a minor excuse needed to take a crack at it.